Introduction
College is expensive, but it doesn’t have to be. There are many ways to pay for college that don’t involve taking out loans or draining your savings account. Say’s Jared Kamrass, in this article, we’ll discuss some creative ways you can fund your education and save money in the process.
Federal Loans
Federal loans are available to all students, regardless of credit history or income.
The interest rate on federal loans is fixed and the same for all borrowers. The amount you borrow and the repayment plan selected determine how much you’ll pay over time–and whether your payments will be affordable.
Federal Student Aid provides an excellent overview of federal student loans in this video:
Financial Aid
Financial aid is an important part of paying for college, but it’s not the only way to get money. Financial aid can be awarded by the government, universities and private organizations.
The first step in applying for financial aid is filling out the FAFSA (Free Application for Federal Student Aid). The FAFSA determines your eligibility for federal student loans and grants (like Pell Grants), which are offered by the government. You should fill out a new version of this form every year as your circumstances change (for example, if you get married or have children). You can apply online at fafsaonlinecom at any time during January through October 15th each year; however, most schools require that you submit their own application as well as one from each parent or guardian no later than December 1st each year.
Many colleges also offer need-based scholarships that do not require any additional paperwork beyond completing their standard applications–you’ll just need to make sure that they’re included among your other scholarship offers when making your final choice!
Veterans Benefits
If you are a veteran, there are several government programs that can help pay for college. The VA Educational Benefits program provides money for tuition and fees, books and supplies. The Montgomery GI Bill pays for up to 36 months of education at certain schools; the Post-9/11 GI Bill offers up to 36 months of benefits at any accredited college or trade school in the U.S., including online programs; Vocational Rehabilitation and Employment (VocRehab) Program helps veterans who have service-connected disabilities get training for civilian careers
Grants and Scholarships
Grants and scholarships are awarded based on merit, need, or both. These awards are given by schools or organizations and can be used toward your education expenses.
- Apply for scholarships: Even if you don’t think you’re eligible, apply anyway! You never know what might come up–and even if a school doesn’t offer an award to fit your needs exactly, they may be able to direct you toward another organization that does. It’s worth looking into all of your options so that no money goes to waste when applying for college funding opportunities.
Think outside the box when seeking scholarship money
There are many scholarship programs that don’t require a minimum GPA or SAT/ACT score. For example, the Beehive Scholarship for Women is open to female students who are 25 years old or older and have been out of school for at least five years. There is no minimum GPA requirement; however, applicants must submit an essay explaining why they want to return to college and how they plan on paying for it. The winner receives up to $10,000 per year (renewable once) for two years at any accredited university in Utah or online through Salt Lake Community College’s Extended Learning program.
Another option is the American Legion Auxiliary Scholarship Program, which awards scholarships ranging from $500-$2,000 annually based on financial need and academic performance among other factors such as leadership skills demonstrated through extracurricular activities like sports teams or clubs/organizations where you volunteer time outside school hours such as tutoring younger kids who may not make as good grades themselves due to lack of parental support etcetera so yes this gives them another chance too!
Conclusion
The most important thing to remember when applying for scholarships is to not give up. There are many opportunities out there, but it can take time and effort to find them. The best way to increase your chances of success is by being creative in your approach, so don’t be afraid to try something new!
